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20130108
20130108
Search Results 0 to 13 of about 14 (some duplicates have been removed)
decide when to raise official debt ceiling, when you melt down your coin. this is actually gaining steam among some democrats. castle said "that was never the intent of anything that i drafted or that anyone who worked with me drafted. it seems to me that whatever is being proposed here is a stretch beyond anything we were trying to do." and some folks don't think we can should do it at all. i asked barney frank about it earlier? >> things that seem really cute and clever almost never work. there is a reality to things. i think this is an important political fight to have, and i think we will win it. i think we say to them, okay, let's take it to the country, do you really want to say we wouldn't pay the debt that we incurred. >> but the platinum coin has also attracted powerful backers. a nobel prize winner wrote "should president obama be willing to print a trillion dollar platinum coin if republicans try to force americans into default" yes, we will, being faced with two alternatives, one, the coin, the other, both vile and a disaster. the president, he said should offer to sign a bil
need it the most a coin can be our best friend ever. now as the united states reaches its debt ceiling limit, could one coin, one single coin help us avoid another big congressional fight? if there was a pill to help protect your eye health as you age... would you take it? well, there is. [ male announcer ] it's called ocuvite. a vitamin totally dedicated to your eyes, from the eye care experts at bausch + lomb. as you age, eyes can lose vital nutrients. ocuvite helps replenish key eye nutrients. ocuvite has a unique formula not found in your multivitamin to help protect your eye health. now that's a pill worth taking. [ male announcer ] ocuvite. help protect your eye health. 17 minutes past the hour. police ending a ground search for a missing florida skydiver. last seen on a thursday during a jump, kurt ruppert disappeared after leaping from a helicopter over the cascade mountains in washington state. search crews had been looking on the ground all weekend. they will continue a search from helicopters. he was wearing a wing suit which lets you flied through the air before deploying a
the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan. change. it's legal in that it is not technically illegal. [ laughter ] let me explain with someone else's mouth. >> technically it does appear to be legal. here is how. >> the u.s. government can print new money but there's a limit to how much paper money can be until circulation at any one time. there are rules that limit the denominations that gold, silver and copper coins can be but there's no limit on platinum coins. the president can issue a platinum coin in any denomination. the treasury can mint it and print on it $1 trillion. it president can order it to be deposited at the federal reserve. >> stephen: then ben bernanke goes to the fed break room vending machine, inserts the count and picks either cheese nips or save the world economy. [cheers and applause] folks -- frankly, i do not think this will ever hasm first of all, when -- ever happen. first of all, what do you put on a trillion dollar coin snon the tail side a bald eagle breathing fire whi
paul krugman some suggested that president obama can get around the debt ceiling by minting a trillion dollar coin and depositing it into the treasury. it does seem wacky by many people, but some are taking it seriously, including republicans who have introduced legislation to prevent this from happening. but i would like to bring perspective to the 1 trillion-dollar debate. there was a similar idea tried a few years ago on the simpsons. it didn't go well. take a look. >> the one-time printing of the largest denomination currency ever, 1 trillion-dollar bill. >> may i see? >> see with your eyes, not with your hand. >> please, we're amigos here. >> mr. burns i think we can trust the president of cuba. >> now give it back. >> give what back. >> oh. >> jennifer: if we do mint the 1 trillion-dollar county let's make sure that our cartoon billionaires do not lose it. we'll be right back after a quick break. do not go away. cu >> jennifer: as the nation continues to debate gun control as we were that just talking about, one conservative media personality did go on piers morgan and lost con
with the debt problem, debt ceiling issue by coining a trillion dollar platinum coin, which is-- >> i kind of like that one. >> yeah, that's what-- i just, i did a little research before coming on with you, megyn to see what's the value -- what kind of real value would have a platinum coin have and the government did for a period of time mint some platinum coins including a one ounce coin that sold for about $1800. if a one ounce coin is worth $1800, the united states doesn't have a trillion dollar worth of platinum to convert into a giant coin, it would have to take a coin worth less than $2,000 and what, sprinkle fairy dust on it and say this is a trillion dollar coin and then try to deposit it with the fed and try to borrow against it, that would be the idea. >> megyn: no more ridiculous than some of the other things we've seen out of the beltway. >> no more ridiculous than some things, but in the end i think these ideas are basically nutty. >> megyn: this whole thing is an argument over that we've seen before between the president and house republicans, are we going to do anything abou
about. about whether the treasuries get over the debt ceiling, can actually mint a platinum coin worth $1 trillion and call it a day. but i feel like it's getting transaction in weird places. >> well, among politicians, so there's your point. look, here is a couple problems i have with it. one is that the fed is not allowed to buy platinum. so how does the money get created? the government can print whatever it wants on any coin it wants. it's a clever idea. gold coins work and the amount of gold is more than ta face value so you never sell it at face value. so you would have to have a coin that would be worth more than $1 trillion after you melt et down and -- >> but would that convince anybody that we have any situation on what's going on and we've managed it? >> absolutely not. and the person who came up with this idea would be the first to say that. >> who came up with it? >> i don't know. i forget the exact name. but -- >> the 14th amendment -- >> the white house is -- >> the 14th amendment is that the president can do whatever it takes in order to maintain the u.s. debt. so basic
of the debt ceiling and i guess by definition, your party, and stammerin and yammerin? >> let's get 16 of them and say goodbye to the debt. think what they could print aluminum coins and say they are worth a trillion dollars. we need to do something to do with run away deficit spending. >> neil: we never do. many argue that your party had a chance in the latest cliff deal and was to settle it? >> we have resolved the tax hikes. now, the issue is spending. i wish we could have. i wish we had a president that would have agreed there was a spending problem. he told the speaker he doesn't think there is a spending problem. last thing we need for treasury to mint a new coin made out of platinum that would weigh, 44 million pounds. i would sink the titanic. you know, this is the kind of things going on in d.c. that we have to draw attention to. >> neil: i hope cooler heads and calmer and less crazy heads will prevail. >> good to be with you. >> neil: invoking an amendment to seek racial equality will -- with debt piling up, pat gudell it's not a wonder that americans are not rising up. >> this is he
, busting through the debt ceiling would be time. it is time to admit that america is a bit of a ludicrous banana republic. this is really bad options of managing our affairs. that is a grim conclusion, by the way, that means bond prices will go up, not as much as in default. but it is a grim conclusion that fits the evidence. of course, there is another option, republicans could just do what the congress of the united states is supposed to do. they could pay the bills it has racked up. and if it wants to pay fewer bills in the future and spend less money it can cut spending or raise taxes, which it writes the next budget. you know, the time you're supposed to do that. you know the way we have been doing it of the nation's history before john boehner and the republicans took over the house, during the entire rest of the nation's history when we never came close to purposely faulting on our deletes when we weren't a ludicrous banana republic? the last word for tonight. the ed show is up next. >> good evening and welcome to new york. the republicans are whining about the president's choice f
their tactics at all, and i wonder can the president, as he has said he will, bow out of the debt ceiling negotiations and sort of leave it to congress? >> if he can, a lot of us are look willing for a way to do that, aside from the trillion dollar coin. from my conversation with republicans, the debt limit will be the most significant thing they do this year. >> y? they feel they have the most lerchlg against president obama to force him to make massive changes to entitlement and enact massive spending cuts. when he says he won't negotiate on the debt limit, they're going all in on the debt limit. if you read the profile of a lot of these new guys, politico had one this morning, if you have conversations with a lot of these gop aids, they say the folks coming in, a lot of these freshmen, they come from very conservative rural districts where they see any extension to the debt limit is adding to the united states to the red, and they don't want to do that under any circumstances. this idea that the new congress will somehow understand economics 101 understand that you need to incur more d
the debt ceiling. look, i mean i think one of the lessons from these episodes and these efforts on the parts of democrats mostly in the house of representatives is that they can be awfully creative when it comes to finding ways to avoid having to deal with the debt crisis that we are facing. these are interesting and innovative solutions but they don't solve the root of the problem, they paper over the exoover the extent of the problem. >> in his first term president obama promised he would fix the immigration problem, that didn't happen. couldn't get the d.r.e.a.m. act through congress. he applied a bunch much executive orders allowing things to happen that congress probably wouldn't have approved, but he just did them anyway. that seems to be the pattern with this administration. >> well it does. we've heard the president signal that he wants to do with that respect to gun control efforts that he's talking about with the biden commission, that they are considering now. the president has -- the white house has gone on record saying that they will not use this 14th amendment sol
, stuart. martha. martha: if congress fails to raise the debt ceiling, democrats suggest ad very interesting alternative the president could take into consideration, he could just mint a couple trillion dollar coins. the idea was floated by an analyst at washington research group. democrats like jerrold nadler says this is a great idea. there is a legal loophole that allows the treasury to print platinum coins of any denomination the president likes. republicans say no way. they are already introducing a bill to make sure it doesn't happen. seriously? give me a break. bill: they would be quite valuable. martha: really. bill: maybe not. martha: maybe not. bill: on the topic of money, president obama is settling on the new pick for treasury secretary. he might announce it sometime this week. jack lew would replace timothy geithner if confirmed. prior to this role he was the direct are to you of office of management and budget. before that lew was the first deputy secretary of state and management resources. martha: washington is still reeling from the president's nomination of chuc
Search Results 0 to 13 of about 14 (some duplicates have been removed)